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Brilliant launches fixed rate deals with Newcastle BS

Brilliant Solutions has launched a series of fixed rate deals with Newcastle Building Society.

These include a two-year fix with no early redemption charge, two-year fixes from 4.29% and five-year fixes from 5.74%, while LTVs go up to 80%.

Matthew Arena, managing director at Brilliant Solutions, says the deals allow borrowers to choose the best combination of rate versus cost.

He says: “I think the two-year fixed rate with no ERC will be very popular, particularly at this time when there is so much uncertainty about

where base rates are going to end up.

“A no-ERC fixed rate provides a level of flexibility which gives clients a safe haven but where they are not tied if rates do not actually increase.”

Steven Marks, intermediary services executive at Newcastle Building Society, adds: “We believe in developing products that the marketplace wants and our no-ERC is a prime example of this.

“More and more customers require flexibility with their mortgage product, given the low interest rates and competition in the marketplace, which was one of the main reasons why we introduced this product.

“We are pleased the reaction from Brilliant Solutions’ introducers is very positive as we believe that it will be popular in the marketplace.”

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